Business, 18.01.2021 14:00 xyxenpaiz5386

Nation Furniture is a furniture manufacturing facility. Its workers just signed a two-year contract. The price level in the economy has increased. Answer the following set of questions based on the short run: a. if the price level increases, input prices will:
1. increase.
2. remain constant.
3. decrease.

b. if the price level increases, output prices will:
1. decrease.
2. remain constant.
3. increase.

c. in the short run, the firm will experience a(n):
1. increase in economic profits.
2. decrease in economic profits.
3. increase in economic losses.

Answers: 1

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Nation Furniture is a furniture manufacturing facility. Its workers just signed a two-year contract....